This checklist has been designed to help you consider and understand the important issues when preparing your will and estate, as well as your powers of attorney.

Questions:

Yes

No

  • Do you have a will prepared by a solicitor and executed properly?
  • Have your circumstances changed since you prepared your last will? For instance, have you married or been divorced? If so, then your will may no longer be valid.
  • Have you reviewed your will in the last 3 years?
  • Have your relationships changed since you made your will (other than marriage/divorce)?
  • Have you notified someone, such as your executor, where your will is located?
  • Are you concerned your will may be challenged?
  • Is anyone financially dependent on you?
  • Do you want to pass on a family business?
  • Have all loans made by you been documented appropriately?
  • Do you have an enduring power of attorney, financial or medical?
  • Do you have any advanced medical directives (i.e. a list of medical directions that you want carried out or not carried out should you become incapable of making such decisions on your own)?

 

WILLS AND ESTATE PLANNING

Pointon Partners has specific experience in drafting wills for different categories of persons, taking into consideration your individual circumstances.

It is important to anticipate all possible scenarios that may arise, through drafting wills specific to your interests and needs. For instance, the inclusion of guardianship clauses for husband and wife wills, and wills that ensure protection from creditors for business executives. Pointon Partners’ extensive experience and forward-thinking approach ensures your estate planning is secure.

Pointon Partners also specifically advise on estate planning issues, and can establish tax-effective wills which best maximises your tax position. For instance, we commonly establish testamentary trust wills, which allows for effective distribution of income and ensures protection from creditors.

Our approach to succession planning takes into consideration the assets held in your own name, superannuation funds, trust deeds, life insurance and other assets.

POWERS OF ATTORNEY

Powers of attorney are legal documents that let you choose someone who can make decisions for you, if you become unable to make decisions for yourself.

In Victoria, there are four different powers of attorney. The type of power you grant will depend on the circumstances in which you want someone to make decisions for you. For instance you may wish for someone to make decisions, either medical or financial, for you in case you lose your capacity to make your own decisions. Alternatively you may want someone to make financial and legal decisions for you for a limited time when you are unavailable, for instance if you are travelling overseas.

Pointon Partners can provide you with a range of information regarding powers of attorney, including advice on:

  • Which power is right for you;
  • Why you should appoint powers of attorney;
  • How to appoint powers of attorney; and
  • How to revoke powers of attorney.

 
If you have queries or wish to discuss any of the above, please contact your regular solicitor at Pointon Partners.

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